Unitech shares slump over 12% after Q3 loss

Shares of realty firm Unitech today plunged by more than 12 per cent after the company reported a consolidated net loss of Rs 16.10 crore for the quarter ended December 31.
The stock tanked 10.51 per cent to Rs 3.66 on BSE.
At NSE, shares of the company dived 12.19 per cent to Rs 3.60.
Unitech Ltd yesterday reported a consolidated net loss of Rs 16.10 crore for the December quarter on sharp rise in finance cost.
The Gurgaon-based developer had posted a net profit of Rs 43.33 crore in the year-ago period.
Income from operations fell to Rs 408.74 crore in the third quarter of this fiscal as against Rs 706.81 crore in the corresponding period of the previous year, Unitech said in a regulatory filing.

On a standalone basis, the company posted a net profit of Rs 26.74 crore, while total income was Rs 271.12 crore.